Money Dashboard, the free personal finance app, has confirmed its crowdfund will launch privately to its users on 20th May 2019, allowing them to grab a stake in the established FinTech.

Users will have exclusive access for 24 hours before the opportunity is made available to the wider public at 10am on Tuesday 21st.

The company recently announced the hire of former Revolut CFO Peter Higgins to lead its finance function as well as the launch of a strategic partnership with price comparison site GoCompare to enrich data from hundreds of UK banks and financial institutions. The investment will be used to supercharge growth of their user base and treble their Edinburgh-based team from 20 to 65 staff.

Money Dashboard CEO Steve Tigar said: “This raise comes at a pivotal time for Money Dashboard. Open Banking is starting to accelerate consumer adoption of digital money managers (DMMs) and we’re positioning ourselves to win the hearts and minds of millions of people. Bringing our users on the journey with us will be a key part in achieving this mission.”

The company raised funds in 2017 through an oversubscribed equity crowdfund which saw more than 1,000 of its users collectively invest £1.4 million. The company is expected to progress to a series A round in 2020.